EWA LIFE SA

TRANSFER OF LIFE INSURANCE BUSINESS

1. Notice is hereby given that EWA Life SA applied to the Commissariat aux assurances, Luxembourg, on 30 May 2005, for their approval, pursuant to article 14 of the directive concerning life assurance (Directive 2002/83/EC), to transfer to AGF LIFE LUXEMBOURG SA, all of its rights and obligations under policies written by it in the United Kingdom in the period between 1 January 1997 and 30 May 2005 inclusive.

2. Copies of a statement setting out the terms of the transfer will be provided, free of charge, by AGF Life Luxembourg SA and can be accessed at www.agf.lu and www.ewalife.lu. This statement was published in the Memorial C No 425 dated 9 May 2005, and can be accessed at www.legilux.public.lu.

3. Written representations concerning the transfer may be sent to Transfers of Business Team, Regulatory Decisions Department, Financial Services Authority, 25 The North Colonnade, Canary Wharf, London E14 45HS, before 19 November 2005. The authority will not consent to the transfer until after considering any representations made to them before that date.

P Gros, AGF Luxembourg

14 boulevard Roosevelt, L-2450 Luxembourg.